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Product Details
Bank Name

Canara Bank

Account Name

Account Type

Saving

Interest Rate

Balance of less than Rs. 50 Lakh-2.90 and Balance of Rs. 50 Lakh to less than Rs 5 Cr-2.90.

Free Debit Card

Yes Canara Classic

CANARA CHAMP DEPOSIT SCHEME
Account Opening Fees

0

Annual Maintenance Fees

100

Minimum Account Balance

Debit Card Charges

Rs 125+ GST

NEFT Charges

Up to Rs.10,000- Rs. 2.25,Rs.10,001 and up to Rs.1 lakh-Rs. 4.75,Above Rs.1 lakh and up to Rs.2 lakhs-Rs.14.75.

IMPS Charges

Up to Rs. 25,000/- : NIL,Beyond Rs. 25,000/- to Rs. 1 Lakh: Rs. 8/-and Beyond Rs. 1Lakh to up to Rs.5 Lakh : Rs. 15/.

Fees and Charges
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CANARA CHAMP DEPOSIT SCHEME

Special Features
There is an option under the scheme to convert balances in excess of Rs. 15,000/- into Kamadhenu Deposit upon the request of the account holder which shall remain with the Bank until the child completes +2 Education and is eligible for pursuing higher education.
Eligibility Criteria
Children upto the age of 12 years (i.e. till 11 years, 364 days)
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Nomination facility is available,C-Net Banking facility is available (For viewing only),TDS is not applicable for SB Canara Champ Deposit,Loan eligibility Card for Educational loan as per the then prevailing Educational loan scheme,Free collection of cheques/DDs gifted to the child upto Rs. 25,000/- per annum,Attractive Savings Box to cultivate the habit of Savings among children.
Cons
Cheque books are not issued under the scheme,Joint accounts cannot be opened under the scheme,
Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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